The Daily Chase: CannTrust warns of potential hit amid probe; stocks rally after wild week
Managing Editor, BNN Bloomberg
CannTrust is warning of a potential “material” hit depending on the outcome of Health Canada’s review of the company’s unlicensed production scandal. In a kitchen sink-style update late Thursday, the beleaguered cannabis producer also said it’s been unable to hold “substantive” remediation discussions with the federal regulator. The update paints the picture of a company that’s in the dark about its regulatory fate, which raises important questions about what it can hope to achieve in the strategic review that’s underway. Nevertheless, the stock is rallying in New York. Also worth noting CannTrust saw fit to include a liquidity update in its release: $250 million in cash and equivalents as of June 30. Of course, its scand ...